{"id":106213,"date":"2017-05-19T06:55:40","date_gmt":"2017-05-19T10:55:40","guid":{"rendered":"http:\/\/countingpips.com\/?p=106213"},"modified":"2017-05-19T06:35:16","modified_gmt":"2017-05-19T10:35:16","slug":"corn-technical-analysis-corn-prices-slip-on-planting-delay-relief","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/05\/corn-technical-analysis-corn-prices-slip-on-planting-delay-relief\/","title":{"rendered":"CORN: Technical Analysis &#8211; Corn prices slip on planting delay relief"},"content":{"rendered":"<div id=\"inves-1740004211\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 19, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">IFCMarkets<\/a><\/p>\n<p><strong>Corn prices slip on planting delay relief<\/strong><\/p>\n<p><a href=\"https:\/\/www.ifcmarkets.com\/en\/market-data\/corn\"> Corn prices <\/a> decline as concerns about planting delays subside. Will the price of corn continue falling?<\/p>\n<p>With concerns about corn planting delays due to rains in US subsiding as plantings exceeded market expectations while continuing to lag behind the five-year average, hedge funds increased their net short position by 24000 lots to 208642 contracts last week, according to the Commodity Futures Trading Commission data. At the same time the risk off mood after increased Washington turmoil surrounding President Trump\u2019s controversial firing of FBI director adds to bearish sentiment for commodities too.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/www.ifcmarkets.com\/uploads\/images\/Corn_19May2017.png\" alt=\"CORN\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily timeframe <b>CORN:D1 <\/b> has been trading within a range since early April. The price has breached below the 50-day moving average MA(50).<\/p>\n<ul class=\"emailSummary\">\n<li>The <b>Donchian channel <\/b> indicates no trend: it is flat.<\/li>\n<li>The <b>Parabolic indicator <\/b> gives a buy signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\">MACD indicator<\/a> is above the signal line and the gap is falling, which is a bearish signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/stochastic\">stochastic oscillator<\/a> is falling and hasn\u2019t crossed into the oversold zone, which is a bearish signal.<\/li>\n<\/ul>\n<p>We believe the bearish momentum will continue after the price breaches below the lower Donchian boundary at 366.1, confirmed also by last fractal low. It can be used as an entry point and a pending order to sell can be placed below that level. The stop loss can be placed above the last fractal high at 375.2. After placing the pending order the stop loss is to be moved every day following Parabolic signals. Thus, we are changing the probable profit\/loss ratio to the breakeven point. If the price meets the stop loss level (375.2) without reaching the order (366.1), we recommend cancelling the position: the market sustains internal changes which were not taken into account.<\/p><div id=\"inves-3426671701\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Technical Analysis Summary<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Position<\/b><\/td>\n<td align=\"left\" valign=\"top\">Sell<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Sell stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 366.1<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Above 375.2<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Corn prices slip on planting delay relief Corn prices decline as concerns about planting delays subside. Will the price of corn continue falling? With concerns about corn planting delays due to rains in US subsiding as plantings exceeded market expectations while continuing to lag behind the five-year average, hedge funds increased their net [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-106213","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/106213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=106213"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/106213\/revisions"}],"predecessor-version":[{"id":106218,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/106213\/revisions\/106218"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=106213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=106213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=106213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}